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January bonuses defy credit crunch.(Hong Kong News)(Survey)(Brief article)

China Staff

| April 01, 2009 | COPYRIGHT 2009 CCH Hong Kong Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

A survey of 125 companies by the Hong Kong Institute of Human Resources Management found that 61 percent paid staff a bonus in January despite the financial crisis, reported The Standard.

Of the 87 respondents, 44 gave a guaranteed bonus to staff, with an average of one month's salary paid out. Four of those companies will change to a non- guaranteed bonus in 2010.

Thirty-three companies with non-guaranteed schemes paid out, and 93.2 of their staff got 1.08 months' salary. Last year, 95 percent of employees got 1.42 months.

Forty-five companies said they adjusted pay in January. ...

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